Fiscal climate in eastern Canada calm 10/11/2009
Area economy small, driven by large offshore projects; Repsol newest player; ConocoPhillips hunting rig, may face political issues
Eastern Canada is a region normally associated with high winds and high unemployment. Ironically, however, the fiscal climate there remains calm during this recession. In some parts of the region, rea...

Canada's offshore oil patch skirts storm 10/04/2009
Newfoundland, Labrador experiencing private sector growth in economic downturn, mostly due to offshore oil and gas investment
As a perfect economic storm batters global markets one hatch of the Canadian ship of state remains wide open to boom times. Newfoundland and Labrador - known across Canada as The Rock - is experiencin...

Forget and forgive in Newfoundland 05/17/2009
Hebron partners file regulatory application for region's 4th commercial offshore project, leaving rifts with government in the past
It will be 12 years behind the original startup date, but Newfoundland's fourth commercial offshore oil field will come on-stream in 2017, contingent on the usual regulatory and corporate sanctioning....

From tragedy to triumph 04/19/2009
StatoilHydro opens door to 2nd Newfoundland basin a month after 17 die in crash
What would otherwise have been a cause for celebration was confined to a subdued response, when Newfoundland recorded its first discovery in 20 years while the province is still grieving the loss of 1...

Newfoundland: Dealing with a tragedy 03/22/2009
Province reels from loss of 17 in helicopter ditching; pushes ahead with exploration; weighs initial gas project royalty holiday
It might have been a time of quiet celebration and a mood of hope for the future of Newfoundland's offshore oil and gas industry. Instead, it was the worst of all times, with the deaths of 17 rig work...

Canada's oil up, gas down in 2007 12/14/2008
Canadian companies produced 1.01 billion barrels of crude oil in 2007, an increase of 4.2 percent from 2006, with the Newfoundland offshore leading the gains at 20.5 percent, according to Statistics C...

Hunt for Labrador natural gas revived 09/21/2008
Newfoundland royalty regime, technology advances attract C$186 million in exploration bids; gas discoveries to date total 4.2 Tcf
Just as it happened in Western Canada, the search for oil occurred long before anyone began looking for natural gas on Canada's East Coast. But the potential resource of 61 trillion cubic feet offshor...

Offshore Newfoundland production pushes 1 billion barrels per day 08/24/2008
Husky Energy said its White Rose oil field offshore Newfoundland has pumped its first 100 million barrels, 27 months after coming on stream, pushing the region's three producing fields close to the 1...

Masters of their destiny 08/24/2008
Newfoundland leader hails Hebron advance, oil to yield $28B in royalties, taxes
Danny Williams, the tough-talking, brawling premier of Newfoundland, has achieved his own version of an Olympic gold medal. And, more importantly for the petroleum industry, the East Coast offshore...

U.S. claims two-thirds of Canada's oil and gas output 03/30/2008
Canada posted record crude oil and equivalent output in 2007 and logged a marginal decline in natural gas production, with almost two-thirds of the total volumes ending up in the United States. Crude...

Newfoundland gets fresh lift 03/30/2008
White Rose, Terra Nova may expand; optimism for discovery off west coast
Every bit as turbulent as the Atlantic Ocean that pounds its shoreline, Newfoundland finds itself in a rare condition these days as hope builds on a number of fronts - possible expansion of its White...

Canada: All things being equal ... 02/24/2008
With oil sands paying off, Canadian oil producers to enjoy banner profit year; research group predicts sharp dip in 2009
Weather, technical glitches, economic trends, geopolitical tensions and other unknowns aside, the Alberta oil sands will push the profits of Canadian oil producers up 17.9 percent this year to a r...

Exxon, Murphy sue Canada over NAFTA 10/07/2007
Exxon Mobil Corp. and Murphy Oil have served notice that they plan to sue Canada for breaching the North American Free Trade Agreement by permitting Newfoundland to require them to spend millions of d...

Ownership over royalties 09/23/2007
Newfoundland opts for equity ownership of up to 10%; unveils draft natural gas royalties; industry likes 'clarity, stability'
Newfoundlanders, in their own words, "will tell it to you straight, boy." That message has come across loud and clear over the past 16 months in the jarring test of wills and the high-risk gamble betw...

Newfoundland, Hebron partners cut deal 08/26/2007
Memorandum of understanding signed between province, Chevron-Canada led offshore oil consortium; details of MOU confidential
To paraphrase Winston Churchill, this is not the beginning of the beginning, or the end of the end, but it does appear to be the end of the beginning. With talk of a "spirit of cooperation and good fa...

Profits, labor woes hit Alberta 08/12/2007
Conference Board of Canada predicts 25% drop in profits this year, but expects 2008 rebound
The Canadian oil industry is headed for a 25 percent jolt to its bottom line this year as lower commodity prices earlier in the year and rising industry costs cut into profits, the Conference Board of...

Newfoundland heads downhill ... unless 07/22/2007
In the absence of any new discoveries or development of satellite pools, offshore Newfound and is headed for a sharp decline in production from 138 million barrels this year to 84 million barrels by 2...

Action quickens in Greenland 07/15/2007
Acquisition season begins; EnCana exec puts offshore well costs at about $60M
Interest in Greenland is perking up among Canadian companies, with EnCana on the hunt for a farm-in partner for two offshore licenses and Husky Energy eager to apply its offshore Newfoundland experien...

Newfoundland ready for test of wills 06/17/2007
Williams: Hebron partners won't get better offer; set to demand equity stake of at least 5 percent in all new offshore projects
Premier Danny Williams is immensely popular in his home province of Newfoundland, where the polls indicate he is a prohibitive favorite for re-election in October. But he's immensely unpopular with oi...

Canadian gas exports take bruising 05/27/2007
Revenues from Canadian natural gas exports to the United States trailed returns from oil in 2006 for the first time in many years, the National Energy Board said in its annual report. Net crude oil ex...

Duvernay Oil gives gas a chance 05/27/2007
Intermediate EandP bucks spending trend with 22% hike in gas program for 2007, but majors remain in wait-and-see stance
Duvernay Oil, an intermediate EandP company, is either on its own or leading the pack in pulling Western Canada out of its natural gas slump. The Calgary-based company, which produced almost 21,000 barr...

Husky runs with the big dogs 04/29/2007
Announces two-for-one stock split; looking at stake in U.S. refinery
Once the runt of the litter, Husky Energy is now a full-fledged member of the pack, snapping at the heels of its peers and nuzzling up to its investors. In quick succession in mid-April it announced a...

Husky brings sparkle to Newfoundland 04/08/2007
Husky Energy is providing the one real jolt of hope these days in offshore Newfoundland, piling up drilling success and obtaining regulatory approval for a 40 percent hike in production from its White...

Downtime plagues pivotal Newfoundland offshore well 03/25/2007
What was destined to be one of the most expensive, deepest and most challenging offshore exploratory wells in Canadian history is living up to expectations. With the future of Newfoundland's indust...

Oil sands, Newfoundland underpin growth 02/18/2007
Canadian crude oil volumes are expected to grow by 9 percent this year, reflecting a mixed bag of shrinking conventional output in Western Canada, offset by the anticipated gains from Alberta's oil sa...